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Louvre Hôtels Sells Portfolio For €170M

Louvre Hôtels Group has sold a portfolio of 32 Campanile hotels for about €170 million.

Louvre HôtelsGroup has sold a portfolio of 32 Campanile hotels for about €170 million, PropertyEU reports. A joint venture of Foncière des Murs (FdM) and the insurance units of Crédit Agricole Assurances,Predica and Pacifica have acquired the properties.

The hotels will continue to operate under the Campanile brand. Nearly 45% of the properties are located in the Paris metropolitan area, 32% in the southern France and 23% in the north of the country. Predica and FdM also recently acquired an Accor hotel portfolio for €378 million.

Click here for the story from PropertyEU.

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